Effective on or about 3/1/19, the maximum initial sales charge for purchases of less than $100,000 of Franklin Templeton’s long-term fixed income funds (Class A and A1 shares) will be lowered to 3.75%. Please see the prospectus supplement for more information. If you have any questions, please contact your financial advisor or call Shareholder Services.
Beginning on 10/19/18, Class C shares held for 10 years or more will automatically convert to Class A shares. Thereafter, Class C shares held for 10 years or more will automatically convert to Class A shares on a monthly basis. This conversion allows shareholders to take advantage of the lower expenses offered by Class A shares. Please see the prospectus supplement for more information. If you have any questions, please contact your financial advisor or call Franklin Templeton.
Class A shares (NASDAQ: FHAIX) were renamed Class A1 and closed to new investors. Existing Class A1 shareholders may continue to add money to their accounts. A new Class A share (NASDAQ: FHQRX) launched with a different expense structure, in which new shareholders can invest. The fund also changed certain sales charges and commissions paid to dealers on Class A and A1 shares. Please see the prospectus supplement for more information. If you have additional questions, please contact your financial advisor or call Franklin Templeton.
The fund seeks a high level of current income, with a secondary focus on capital appreciation, by investing predominantly in higher-yielding, lower-rated corporate bonds.
Investment Philosophy
We believe that strong high-yield returns can be best sought through the disciplined application of a research-based approach that seeks to capitalize on inefficiencies across the high-yield market. Through rigorous bottom-up research, we seek to identify attractive income and total return opportunities with the potential to add value over a three- to five-year horizon.
Investment Process
Fundamental Analysis
Long-Term Outlook
Seek Valuation Inefficiencies
Disciplined Approach
Table Legend
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